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Bitcoin has become one of the hottest trends in latest years. Last year, it surpassed Donald Trump in Google searches. Everyone is talking about bitcoin. Many folks don’t exactly understand the idea.

In laymen's terms, bitcoin is a ledger. A ledger is a set of transactions. Allow’s understand this with an example.

Suppose you go to a grocery shop. You purchase vegetables for $15. The ledger entry will be — You are paying the vegetable owner 15 dollars.

Then, allow’s tell the vegetable guy goes to a doctor and pays $10 for a medical examination. The ledger entry will be — The vegetable owner is paying 10 dollars to the doctor.

These all are considered as a set of transactions. This is related to what we see in our bank acc statements. A ledger is a set of transactions, and at the end, you have your acc balance. This is what bitcoin is in a nutshell.

In this article, we will first learn the blockchain and how mining works. Then we will learn how to do bitcoin mining in python.

Allow’s receive started.

Blockchain and Transactions

In the bitcoin ledger, all transactions are stored in blocks. It includes millions of transactions from the time when bitcoin was invented. It includes few blocks for these transactions that grows each day.

These blocks are linked as a linked list. Just like linked lists have multiple nodes where all nodes are connected to other, blockchain has multiple blocks.